FT. LAUDERDALE, Fla., Nov. 23 /PRNewswire/ -- Consolidated Credit's 6th
Annual Holiday Spending Survey finds sixty-two percent of people plan to spend
less money during the 2005 holiday season. Last year, most respondents said
they planned to spend more.
Over forty-three percent said they are paying off debt from last holiday
season, which is up from 30% last year. "The tough economic conditions in
2005 did not enable consumers to pay their debts in a timely manner," says
Howard Dvorkin, founder of the non-profit, Consolidated Credit Counseling
Services, Inc. and author of Credit Hell: How to Dig Out of Debt.
The majority (29.42%) who answered the survey plan to spend $300-$500
while more than 21% plan to spend $500-$1,000 as compared to 12% of last
years' respondents who said they would spend that amount, and close to 5% say
they will spend more than $1,000.
Over 45% of 18-25 year olds surveyed said, they will buy on impulse
instead of planning and more than 40% stated they are still paying holiday
debts from last year.
Other Findings:
-- 67% of people (less than last years' 72%) plan on paying off all their
debts within 1 year
-- 76% DO NOT plan on traveling this holiday season
-- 24% of men plan to spend between $500 and $1000 while 32% of women
only plan to spend between $300 and $500
-- More than 2% of men said they plan on doing all of their shopping
online; triple that of women
-- In the Northeast, almost 6% will spend more than $1000 this year
-- Southerners have the least amount of remaining holiday debt from last
year.
As part of Consolidated Credit's Holiday Season Survival campaign,
consumers can download a free copy of their Holiday Survival Guide at
http://www.ConsolidatedCredit.org.
The sixth annual survey is a random sampling conducted via the internet.
As of November 21, 2005, there are 588 respondents. Survey finding will be
updated and analyzed twice before December 25. Consolidated Credit Counseling
Services, Inc. is a 12-year old nonprofit that assists families throughout the
United States in ending financial hardships through education and professional
counseling. For more details and full survey results, go to the In The News
section at http://www.ConsolidatedCredit.org.
Available Topic Expert(s): For information on the listed expert(s), click
appropriate link.
Howard S. Dvorkin
http://profnet.prnewswire.com/ud_public.jsp?userid=22415
SOURCE Consolidated Credit Counseling Services, Inc.
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Related links:
http://www.consolidatedcredit.org
CONTACT:
April Lewis-Parks, 1-800-728-3632 ext. 9344,
April@debtfree.org for Consolidated Credit Counseling Services,
Inc.
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